Northern Arc Capital Limited has submitted a regulatory disclosure to BSE Limited and National Stock Exchange of India Ltd. regarding the utilization of funds raised through its Initial Public Offer (IPO).
Key Details of Fund Raising
- Mode of Raising Funds: Public Issue - Initial Public Offer (IPO)
- Type of Instrument: Equity Shares
- Date of Raising Funds: September 23, 2024
- Amount Raised: ₹4,498.45 million (Net of issue proceeds)
- Reporting Quarter: September 30, 2026
Monitoring and Compliance
- Monitoring Agency: Applicable
- Monitoring Agency Name: CRISIL Ratings Limited
- Deviation/Variation in Use of Funds: No deviation/variation
Regulatory Approvals and Explanations
- Approval Required to Vary Objects: Not Applicable (NA)
- Details of Approval: Not Applicable (NA)
- Date of Approval: Not Applicable (NA)
- Explanation for Deviation/Variation: Not Applicable (NA)
Review Comments
- Audit Committee Comments: Not Applicable (NA)
- Auditors Comments: Not Applicable (NA)
Objects of Issue Utilization
The statement confirms that there has been no deviation or variation in the utilization of funds according to the original objects stated in the prospectus. The detailed table showing original objects, modified objects, allocations, and utilization shows all entries as "-" indicating no changes.
Signatories and Authentication
- Company Secretary: Prakash Chandra Panda, Company Secretary & Compliance Officer
- Chief Financial Officer: Mr. Atul Tibrewal (Signatory for the statement)
- Signature Date: November 03, 2026
Additional Information
- The intimation is available on the company's website at https://www.northernarc.com/statement-of-deviations
- Company Registered Office: 10th Floor, Phase-I, IIT-Madras Research Park, Kanagam Village, Taramani, Chennai - 600 113, India
- Company CIN: L65910TN1989PLC017021
Financial Impact
No financial impact from deviation/variation as none occurred. The company has utilized the IPO proceeds in accordance with the original objects disclosed in the prospectus.